Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

US tariffs threaten British consumers’ pockets, warn Bank of England

by March 5, 2025
March 5, 2025
US tariffs threaten British consumers’ pockets, warn Bank of England

The Bank of England has cautioned that US president Donald Trump’s escalating trade tariffs will likely leave British households with less disposable income.

Speaking before MPs, Governor Andrew Bailey described the risks to the UK and global economies as “substantial” and warned that any disruption to trade flows could reduce output and raise costs.

Megan Greene, a member of the Bank’s monetary policy committee, highlighted the uncertainty surrounding the extent of Washington’s protectionist measures and how other nations might respond. She noted that tariffs on British exports to the US would exert “downward pressure” on UK growth but also potentially dampen inflation. On the other hand, the higher costs associated with fragmenting supply chains could weigh on the UK economy while fuelling price rises.

Professor Alan Taylor, another committee member, agreed that the balance of risk is heavily tilted to the downside. “If you put sand in those wheels of trade, we’re going to be worse off on some margin,” he said. Bailey echoed these concerns, stressing that open trade fosters innovation and growth, and urged the settlement of disputes through established institutions like the World Trade Organization.

Trump administration officials argue that tariffs help secure better deals for the US. However, critics say such policies inflate consumer prices at home while threatening economic vitality elsewhere.

Meanwhile, Bailey warned of further upheaval if the US withdraws from bodies such as the International Monetary Fund or the World Bank, calling the idea “very damaging for the world.” The newly appointed US treasury secretary, Scott Bessent, has expressed support for multilateral cooperation, a stance Bailey said he “strongly” welcomes.

Read more:
US tariffs threaten British consumers’ pockets, warn Bank of England

0
FacebookTwitterGoogle +Pinterest
previous post
Government Versus Private Vaccine Mandates
next post
Kaleb Cooper becomes a millionaire, just two years after 50p-an-hour farm work

You may also like

Former BBC Dragon James Caan works tirelessly to...

October 28, 2022

HMRC says 25% of R&D Tax Relief Scheme...

July 18, 2023

Ofcom proposes new rules to curb Mobile roaming...

July 20, 2023

Economic output slumps to its lowest since first...

November 21, 2022

UK recession appears to be over as economy...

March 13, 2024

Getting Too Know You: Michael Baron, Commercial Director,...

July 18, 2024

Wrexham’s Hollywood owners seek new investors to back...

April 6, 2025

The Most Common Mistakes Teams Make When Pitching...

December 10, 2024

Business tycoon, John Caudwell, withdraws support for Sunak...

September 24, 2023

UK’s first lithium refinery to be built in...

November 7, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Jill Biden’s ‘work husband’ runs for cover as privilege protection crumbles

      June 26, 2025
    • Poll: Majority of Republicans back Trump’s strikes on Iran; most Americans fear getting dragged into war

      June 25, 2025
    • Senate Republicans look to sweeten Medicaid pot to silence dissent on Trump’s ‘big, beautiful bill’

      June 25, 2025
    • Judicial nominee shuts down ‘wildly inaccurate’ claims that he’s Trump’s ‘henchman’

      June 25, 2025
    • Tesla’s European sales fall for a fifth month in a row

      June 25, 2025
    • World leaders flock to meet with Trump at NATO Summit

      June 25, 2025

    Categories

    • Business (8,314)
    • Investing (2,072)
    • Politics (15,806)
    • Stocks (3,168)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved